02 September

Achieving Your US CMA Goals in 2024: A Comprehensive Guide

If you are planning to make a career in the accounting or management field, there are many options available. One such reputed designation is Certified Management Accountant, also known as CMA. In this blog, we’ll help you understand what CMA is, how to acquire the designation, and what is to be studied for the examination. Let’s get started.

What Does CMA Mean?

The designation of a CMA to an individual is awarded by the Institute of Management Accountants, also known as IMA. It is a highly coveted professional credential earned by students who successfully pass the examination and also meet all the necessary requirements. As CMAs have expertise in Financial Accounting and Strategic Management, they play a crucial role for a lot of companies. CMAs prepare meticulously crafted documents that enhance an organisation’s financial statements and provide valuable information on various aspects, including human resource management and budgeting.

The responsibilities of a CMA can vary depending on the industry. However, common tasks handled by all CMAs include budget creation, internal audits, and ledger management. You can understand the role and responsibilities when you study more about the course. Additionally, if you plan to enrol in a chartered accountant course, make sure to compare the distinctions between a CMA and a CA to know which career option will align best with your aspirations.

How do I get a CMA credential?

CMA is similar to other certifications in finance and accounting in terms of procedures. Just like any other certification, the process of becoming a CMA is quite complex and gruelling. We suggest you go through the US CMA course details before taking a call and remember them for future reference.

All you must know before applying for a CMA (US) certification

It is important for all candidates to be a member of IMA or Institute of Management Accountant.

Candidates must have a bachelor’s degree from any recognised university or a professional accounting certification.

What topics do you need to study for the CMA examination?

A CMA Examination consists of two parts. The duration of a CMA exam is 4 hours, which consists of 100 MCQs and 2 essay questions. 3 hours are granted to aspiring candidates to complete the MCQ questions, and 1 hour is allotted for essay-type questions. Also, the MCQ and Essay questions are in the proportion of 3:1. This will also be listed in USA CMA Course details.

Part 1:

  • Cost Management
  • Planning, Budgeting, and Forecasting
  • External Financial Reporting Decisions
  • Performance Management
  • Internal Controls
  • Technology and Analytics

Part 2:

  • Corporate Finance
  • Financial Statement Analysis
  • Decision Analysis
  • Risk Management
  • Investment Decisions
  • Professional Ethics

Want to get the best coaching for US CMA? Get started with AKPIS Professionals

CMA is one such career offering various opportunities and exposure in our finance industry. Moreover, the role of a CMA is fulfilling in terms of professional development and financial rewards. So, if you plan to get coaching for US CMA, then connect with AKPIS Professionals today. Additionally, if you are interested in CPA, then we also offer the best CPA coaching in India. Enrol with us today!